• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Saturday, September 6, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Nigeria’s membership of WTO, bane to local market, domestic production – Don

WTO

The Matters Press by The Matters Press
December 2, 2023
Reading Time: 2 mins read
0
WTO postpones conference due to pandemic travel restrictions

Ilorin, Dec. 2, 2023: Prof. Joshua Olatoke SAN of the Department of Jurisprudence and International Law, University of Ilorin, has blamed Nigeria’s membership to World Trade Organisation (WTO) as causing unrestrained imports at expense of local market and domestic production.

RELATED POSTS

‎Tinubu’s export ban on raw shea nuts will position Nigeria for $3bn annual revenue-TSF

‎IMF, IFC commendation for Nigeria’s economic recovery, evidence of success of Tinubu’s economic reforms – TDF

‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

Olatoke stated this in Ilorin during his paper presentation at the 247th Inaugural Lecture of University of Ilorin, entitled: “Africa in the Global Economic Trade Law Conundrum”.

He submitted that the negative trend has led to a weaker Naira that we are witnessing today, while local industries barely thrive.

“Nigerian manufacturers now operate under extreme odds and can hardly expand or create employment.

“The cumulative result had been a fragile economy which is unproductive and lacks energy to face global market competition,” he said.

The don, who teaches in the Faculty of Law of the university, lamented that the genesis of Nigeria’s problem in the politics and policies of the WTO was that the country signed WTO agreement without negotiating concession.

“Thus, any country of the world can easily ferry their goods and dump same in Nigeria.

“On the contrary, countries like India and China joined only after insisting on and securing concessions that 214 and 130 items would not be exported into their countries,” he said.

The Law expert observed that the negative effects of dumping goods is that developed countries dictate the prices of Nigeria’s manufactured goods.

He stated that consequently, the economy is unfittingly run to sustain jobs in those countries from where Nigeria imports, while the economy is plagued by the problems.

Olatoke advised that the only way by which Nigerian government is presently pursuing dumping is through the ban on importation of selected goods through the Nigerian Customs Service.

He stated that developing countries must be be protected by law and legal institutions with the view of redressing the imbalance in the trade relationship.

According to him, it will be of great importance for African continent to look within and have its own unified monetary system.

He explained that this would reduce Africa’s undue dependence on the economy of European world.

Tags: WTO
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Nigeria targets $1.2bn export capacity for every state
Economy/Technology

‎Tinubu’s export ban on raw shea nuts will position Nigeria for $3bn annual revenue-TSF

September 2, 2025
Nigerians to own brand new vehicles, goods through new credit scheme initiative
Economy/Technology

‎IMF, IFC commendation for Nigeria’s economic recovery, evidence of success of Tinubu’s economic reforms – TDF

September 2, 2025
Nigeria regains top crude oil production spot in Africa
Energy

‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

August 28, 2025
Who is lying, Obasanjo or NAN?
News

‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient

August 28, 2025
Obasanjo campaigns for AfCFTA
News

Tinubu succeeding where Obasanjo failed woefully, says TMSG

August 28, 2025
Tinubu explains mission as he marks second year in office
Economy/Technology

‎Tinubu in fresh ideas to grassroots-development using 8,809 wards initiative – TMSG ‎

August 9, 2025
Next Post
Free public transportation for retirees begins in Lagos

NSIWC clarified commission’s issuance of pension circulars

Nigeria’s green bond market exceeds N55bn mark

AfDB moves to strengthen Africa’s green bond market

Recommended Stories

Transformation  plan for   774 LGs by 2027

Nigeria’s reforms gaining more support, rekindling confidence

January 12, 2025
NPA tasks arbitrators on speedy dispute resolution

NPA lauds MWUN over workers’ salary increase

March 15, 2023
Swiss Bank expects profit of $50bn

Nigeria’s foreign trade hits N13.3trn

December 6, 2021

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • ‎Tinubu’s export ban on raw shea nuts will position Nigeria for $3bn annual revenue-TSF
  • ‎IMF, IFC commendation for Nigeria’s economic recovery, evidence of success of Tinubu’s economic reforms – TDF
  • ‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us